TOCOM ends up as yen weakens against dollar

2017-7-9 19:39:58Editor：AmandaFont Size：BigMediumSmall

Benchmark Tokyo rubber futures ended slightly higher on Friday, erasing early losses as the yen weakened against the dollar after theBank of Japan increased its purchases of Japanese government bonds in a move aimed at stemming a rise in yields.

The dollar extended gains against its Japanese counterpart after the BOJ's move, rising 0.6 percent to 113.830 yen after touching a session high of 113.835 yen, its highest level since May 12.

A weaker yen makes commodities denominated in the Japanese currency cheaper for holders of other currencies.

Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, also found support from firm Shanghaicounterparts, brokers said.